Multi-family

248 E 32nd Street, New York, NY 10016
Price: $5,700,000 ($633,333/Unit)
Sale Type: Investment
Property Type: 3-Star Mid-Rise Apartments
Units: 9
Average Unit Size: 825 sq. ft.
Gross Building Area (GBA): 6,250 sq. ft.
Typical Floor Size: 1,270 sq. ft.
Stories: 5
Class: B
Number of Buildings: 1
Units per Acre: 150/AC
Market Segment: All
Rent Type: Market

Key Features:

Prime Midtown South Location:
Located on E 32nd Street in the Midtown South area, this property benefits from its proximity to vibrant commercial, retail, and residential districts. Midtown South continues to attract a mix of professionals, tech companies, and creative businesses, making it a sought-after location for both living and working. Its central location ensures easy access to transportation, dining, and entertainment options, contributing to strong tenant demand.

Investment Opportunity:
With a price tag of $5,700,000, the property is priced at $633,333 per unit, offering a competitive option for investors seeking a multi-unit residential asset. The property’s market rent status means it has the potential for consistent rental income, and its Class B classification ensures it appeals to a wide range of tenants.

Spacious Layouts:
Each of the 9 units offers an average unit size of 825 sq. ft., providing comfortable living spaces for tenants. The GBAof 6,250 sq. ft. is divided into 5 stories, with each floor offering approximately 1,270 sq. ft., allowing for efficient use of space and the ability to generate strong rental returns.

Well-Maintained Property:
This building’s Class B status ensures it is a well-maintained property that is attractive to tenants and offers long-term durability. The property consists of one building, making it easier to manage and maintain compared to larger, more complex properties.

Flexible Investment for Various Market Segments:
With a market rent structure, this property is well-positioned to cater to a variety of market segments. Whether for long-term rental or potential value-add opportunities, investors will find significant potential in this asset.

Conclusion:
248 E 32nd Street offers an excellent opportunity for investors looking for a well-located, income-producing property in one of New York City’s most vibrant neighborhoods. With 9 units, a solid market rent structure, and a 5-story layout, this property offers the potential for steady returns in a high-demand location. Don’t miss the chance to secure a valuable asset in one of Manhattan’s most dynamic areas.